ConocoPhillips (COP) will raise its quarterly dividend by 5.8 percent from $0.69 to $0.73 per share in 2014. Last year the dividend was increased by 4.5% following three years of double digit dividend growth for the oil major.

The increased dividend is payable on September 2, 2014, to stockholders of record at the close of business on July 21, 2014. The ex-date for this next dividend of 73 cents per share is July 17, 2014.

ConocoPhillips is an energy exploration and production company, headquartered in Houston, Texas. Conoco explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) in approximately 20 countries, including Norway, the United States, the UK, Canada, Australia, China, Indonesia, Malaysia and Qatar.